{"id":276042,"date":"2025-12-18T13:54:30","date_gmt":"2025-12-18T18:54:30","guid":{"rendered":"https:\/\/ncrc.org\/?p=276042"},"modified":"2025-12-18T13:54:30","modified_gmt":"2025-12-18T18:54:30","slug":"ncrc-and-rise-economy-announce-2-5-billion-expansion-of-columbia-banks-community-benefits-agreement-to-support-california-communities","status":"publish","type":"post","link":"https:\/\/ncrc.org\/ncrc-and-rise-economy-announce-2-5-billion-expansion-of-columbia-banks-community-benefits-agreement-to-support-california-communities\/","title":{"rendered":"NCRC and Rise Economy Announce $2.5 Billion Expansion of Columbia Bank\u2019s Community Benefits Agreement to Support California Communities"},"content":{"rendered":"<p><span data-contrast=\"auto\">The National Community Reinvestment Coalition (NCRC), in partnership with Rise Economy,\u00a0today\u00a0announced a\u00a0$2.5\u00a0billion\u00a0addendum to Columbia Bank\u2019s Community Benefits Agreement (CBA), expanding the bank\u2019s commitments in California following its\u00a0recent\u00a0acquisition of\u00a0Irvine, California-based\u00a0Pacific Premier Bank.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cThis update to the Columbia Bank Community Benefits Agreement reflects a strong commitment to expanding economic opportunity in the bank&#8217;s expanding footprint, deepening community engagement, and in particular supporting rural communities and small businesses,\u201d said Jesse Van Tol, President and CEO of the National Community Reinvestment Coalition. \u201cAs Columbia Bank grows through its acquisition of PPBI, we\u2019re encouraged to see a continued focus on the needs of underserved areas and entrepreneurs who are the backbone of local economies.\u201d<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">&#8220;We appreciate the collaborative approach taken by Columbia Bank&#8217;s leadership in working with community members to develop an agreement that directly addresses the needs of all Californians,&#8221; said Paulina Gonzalez-Brito CEO of Rise Economy. &#8220;Bank mergers should deliver meaningful public benefits. This commitment achieves that by strengthening lending support for small businesses and farms, investing in Tribal-led CDFIs and other tribal organizations, and supporting access to affordable housing and down-payment assistance programs. We look forward to seeing the positive impact of this agreement over the next five years.&#8221;\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Additional\u00a0Columbia Bank\u00a0commitments\u00a0to California communities\u00a0include:<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Small Business\u00a0and Farm\u00a0Lending and\u00a0Support<\/span><\/b><br \/>\n<i><span data-contrast=\"auto\">Commitment:\u00a0$630 million in support to\u00a0Small Businesses\u00a0and Small Farms<\/span><\/i><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Columbia\u00a0Bank\u00a0will prioritize\u00a0additional\u00a0access to capital\u00a0and technical\u00a0assistance\u00a0for enterprises earning\u00a0less than $1 million in annual revenue.\u00a0Each year\u00a0starting in 2026\u00a0through 2028, the bank will also increase\u00a0its\u00a0impact with\u00a0small business and farm\u00a0loans\u00a0totaling\u00a0less than $100,000, as well as\u00a0its number of\u00a0Small Business Administration loans less than $250,000.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Community\u00a0Investment\u00a0and\u00a0Development<\/span><\/b><br \/>\n<i><span data-contrast=\"auto\">Commitment:\u00a0$1,395 billion<\/span><\/i><span data-contrast=\"auto\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Columbia\u00a0Bank\u00a0will support small business growth and access to affordable housing in low- and moderate-income (LMI) communities through EQ2 investments and partnerships with community development financial institutions (CDFIs) and other providers of small business lending and technical assistance. Additional investments will target quality of life challenges, including those related to disaster relief, food insecurity and other public health initiatives.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">CRA-Focused\u00a0Philanthropy<\/span><\/b><br \/>\n<i><span data-contrast=\"auto\">Commitment: $10.6\u00a0Million<\/span><\/i><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Columbia\u00a0Bank\u2019s\u00a0additional\u00a0philanthropic commitment in California will prioritize former Pacific Premier Bank nonprofit partners, support\u00a0housing\u00a0and home ownership stability, as well as\u00a0provide unrestricted financial support so organizations can\u00a0fund priorities and\u00a0build capacity.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Home\u00a0Lending and Mortgage Assistance<\/span><\/b><br \/>\n<span data-contrast=\"auto\">Commitment:\u00a0<\/span><i><span data-contrast=\"auto\">$525 million to support homeownership<\/span><\/i><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Columbia Bank will support access to homeownership with additional lending across under-resourced communities, including in LMI neighborhoods. The bank will also expand down payment assistance programs and collaborate with partners on related education and marketing initiatives.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Columbia Bank&#8217;s expanded Community Benefits Agreement commits a further $2.5 billion to California 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